Just a quick reminder that the FAFSA deadlines per school year is typically set by the school. You can fill out a FAFSA, up until july 1st, of the past school year, but the school you are going to sets deadlines on when they will stop accepting SARs for the upcoming school year. Most schools set these deadlines in the spring before the upcoming semester. Check with your school to see if it is too late to get Federal aid for the upcoming school year.
If you’re a male over the age of 18, you are required by law to register with the Selective Service, also known as the draft. While America has not invoked the draft since the Vietnam War, federal still mandates it, and your FAFSA will be rejected if you meet the eligibility guidelines for the draft but are not registered.
One of the little known aspects of the FAFSA is that legally, you have to be truthful about your financial status at time of application. Let’s say you file on February 15 and you have $500 in your checking account for rent. On your filing, you have to declare that $500 in your checking account as a resource on the FAFSA, and it will count against your financial aid eligibility.
Let’s say that your rent for $450 is due on the 20th. Ask your landlord if you can make a payment on the 14th for the month instead of the 20th. If they agree, you can legally declare on the 15th that you only have $50 in your checking account, even if the check hasn’t cleared yet, because that money is no longer yours.
Got a pile of cash from a break or vacation of hard work? Take care of as many expenses as you can for the year ahead before you file your FAFSA. Make an extra payment or two on your rent, buy necessarily supplies, etc. Doing so will improve your eligibility for financial aid (and probably reduce some stress, too).
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I saw this post on Twitter:
if I dont get net access to complete my FAFSA I may not be going to school this year. #iaflood
You do NOT need Internet access to complete your FAFSA. If you’re stuck in the Iowa floods or some situation where Internet access just isn’t available, you can call the US Department of Education at 1-800-4-FED-AID (1-800-433-3243) to speak to someone about alternative options, and even filing by phone.
You can also still download and mail a printed copy, or pick up a paper copy of the FAFSA at a local college or university. Check to see if there’s a college, especially a community college, near you.
The online FAFSA remains the best choice for students, as it is the fastest and typically the most accurate, but in cases where natural disasters preclude that option, the US Department of Education does indeed still accept other options.
One cautionary note: do NOT call other companies for FAFSA by phone options - they WILL try to sell you their paid FAFSA services, which are unnecessary. Only call the US Department of Education.
I’m a big fan of the life-blogging service Twitter, and thought I’d share some of the more recent comments about the FAFSA here, along with “director’s commentary” of sorts.
JanetIs: Glad the FAFSA isn’t due until the 30th.
@Janetis: Actually, the sooner you can file it, the better. There’s a limited amount of “free money” available each year, and once it’s gone, it’s gone. It’s allocated on a first come, first served basis.
andyduss: FAFSA can suck it!
dUbiAsIti: uuuuuuuuuuuuuuuuuuuuugh, i hate filling out the FAFSA! even when the gov’t has prefilled my answers and it’s easy as pie, i still HATE IT…
donkeypoof: importing music/FAFSA/nebraska driver’slicense?!
unsympathetic: finally filling out my FAFSA
bvaughn: Just finished my FAFSA for next semester… let’s see if the gov’t will give me any money to go to school!
@bvaughn: Don’t just wait on the government. Go find some money yourself - check out our free scholarship search book!
brandanger: wednesday got up cameto class had class til 11:35 work on FAFSA work on homework go out to eat with a friend
twistedmentat: Did my FAFSA. Sorry, Financial Institution, there ain’t no WAY yer squeezin’ eight large outta me.
mmemaledicta: Ok, so here’s what pisses me off about the FAFSA: They ask you for the totals of all accounts. What if rent hasn’t cleared? BS.
@mmemaledicta: They do ask you for the totals of all accounts, but that’s as of the day you file. If you know your rent will clear in a day or two, you can hold off filing the FAFSA until your rent has cleared and your checking account is back to normal.
craftyminx: FAFSA… Knew i forgot something
jeffmckown: Filling out the FAFSA sucks.
hyakurin: Watching CNN. Bored. Worried about FAFSA ******* me on my loans.
@hyakurin: There are a couple of loans, such as the PLUS loan, and private student loans, which do not require the FAFSA at all. If your award letter and student aid report come back with meager results, look into these loans, too.
merrickmonroe: @valor26: maybe not the school (yet), but FAFSA hq should watch out!
If you’ve got questions about the FAFSA, please ask! We’re here to help.
What do all of these have in common?
The answer? None of them will get you where you want to go. I’ve been studying how people are finding FAFSAonline.com, and in many cases, they’re finding us through URLs like these. None of these will help you, and at least one will cost you money unnecessarily.
So here’s the correct address you’re looking for to file your FAFSA:
You can also get there by clicking the big red button on the left. Before you go, be sure to check out our tutorials and guides:
As of July 1, 2008, interest rates will be changing on federal student loans such as the Stafford loan. Here’s a quick rundown of the details:
For new Stafford loans:
For Stafford loans older than July 1, 2006:
For PLUS loans older than July 1, 2006:
If you’re just filing your FAFSA now, be aware that loan limits have increased as well; you’ll receive additional details from your school’s financial aid office in your award letter and financial aid package.
For those who don’t know, if you have past drug convictions, for selling or possession while you were receiving Federal aid, then this can affect your aid eligibility. Your eligibility for Federal aid is revoked for a period of time (directly correlated to the type and number of convictions).
I did some research on this, and it appears that as long as you have completed an “acceptable drug rehab program”, you can still receive federal aid. There are no time constraints on this, either. You could be convicted of selling/possessing drugs, enter a rehab program, complete it, and still get federal financial aid right away
An acceptable drug rehabilitation program must include two random drug tests.
The program must also:
OR
OR
OR
I also found that if this drug conviction (for selling or possessing) was 2 or more years ago, then a drug rehab program is NOT required, and you should still be able to get federal aid. If you have more than 1 drug conviction in the past 2 years, then your eligibility is suspended for longer.
If you have more than 1 drug conviction in the past 2 years, you have to wait longer in order to be eligible for Federal aid. (it appears that each drug conviction you have = 1 year of lost eligibility). If you have 3 or more drug convictions in the past, then you are ineligible for Federal aid indefinitely.
Some more advice from the EASFAA conference - at least once in your college career, complete the EFC formula by hand to see what variables have the most impact on your financial aid. Some variables count more than others, and every situation is unique, so give it a try at least once and see how you fare. It may not be the most exciting way to spend a Sunday afternoon, but it could very well be one of the most financially rewarding.
I had the opportunity over the past three days to attend the EASFAA conference, and one of the best sessions I sat in on was on Demystifying Federal Methodology. The presenter explained this vital fact:
The income tax paid line on the FAFSA is the one most often done wrong, and when done wrong, it costs students and families money.
Most people put down their withholding amounts on the FAFSA, not the actual income tax paid.
Depending on how you have federal tax withholding set up, this could cost you financial aid!
So we’re going to change our advice here - instead of recommending that you do your taxes before filing your FAFSA, we’re now going to suggest that you MUST file your taxes first, to ensure as correct a FAFSA (and subsequent EFC) as possible.
Consult a qualified tax professional or a financial planner/CPA to have your taxes done (or redone) - and if you have already filed your FAFSA, do the EFC formula by hand or use the FAFSA Forecaster to see if filing a correction makes sense.
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